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Crude prices slipped back in Asian trade Wednesday as a key US oil-producing region reeled from the devastation caused by monster storm Harvey. Harvey rolled into Texas on Friday as a Category Four hurricane, tearing down homes and businesses on the Gulf Coast, and triggering massive floods. The storm caused the closure of many oil refineries, which analysts said would lead to bigger crude stockpiles and push down prices. In early afternoon Asian trade, US benchmark West Texas Intermediate was down 14 cents at $46.30 while Brent crude for October eased 21 cents to $51.79. "The effect of Hurricane... [Read More]
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